Missed Opportunities, Distractions – Aug 21, 2020
I AM GRATEFUL AND HIGHLY BLESSED! I AM FOCUSED!
PREMARKET ROUTINE & THOUGHTS
- Meditation done this time without the yoga session, trying out a meditation guide on Audible
- Feeling energized, calm and ready to trade well
- Raining outside and I like the ambience of it. Wouldn’t mind a hard rain while I trade
- Focused and know exactly what I need to do
- Let’s goooooo!
Remember the setup DOES NOT have to be PERFECT.
TRADING NOTES
09:20 – After today’s session I want to play around with hotkeys. Saw some interesting videos on YouTube about NT8 hotkeys last night
09:25 – Interesting v-shape pattern premarket
09:34 – Looks like we have a lot of buyers sitting at the 470 area. Removed original order to give them another shot at pushing the price higher before attempting to take a quick short. Thinking if we get filled down there we can eat the stops (hard and mental) of the buyers
09:36 – Scalp play worked, runner got stopped out for a small loss overall. [HINDSIGHT CAPITAL] Would have been better to take that one at the break into the wick of the previous candle.
09:41 – Looks like bears are going to have a big fight on their hands this morning. any short play needs to be aggressive at the best price
09:46 – Lack of confidence in the NT8 order but want to pull the trigger so took it in Sierra sim. Still working on my limit order placements
09:48 – Wife being kind of loud rn while cooking.. a little distracting. Need a secret cave to trade in lol
09:51 – Glad I didn’t hold that order in NT8. Would have better to play the price action over the indicators I was looking at. Play still looks long but choppy
09:53 – [RANDOM THOUGHT] Interesting how perspectives change. Friday’s used to be my favorite day of the week with dreadful Mondays.. Now completely the opposite.
10:00 – Distracted myself with making a Twitter post. Psychological regroup
10:10 – Up to this point the pivot point at 469 has been a reliable buy location but could break down if price continues to retest.
10:14 – I made the mistake of allowing myself to get distracted with another livestream on YouTube where they were having a low frequency conversation about coronavirus. Almost got involved but made the better decision to just remove myself from that waste of energy.
10:19 – Potential breakout into ATH above 500 but I don’t like breakout plays anymore.
10:24 – Setup looks so beautiful but the fact that it’s a breakout I passed and now kicking myself. Maybe I can get a retest…
Mismatch Charting – AUG 14, 2020
I AM GRATEFUL AND HIGHLY BLESSED! I AM FOCUSED!
PREMARKET ROUTINE & THOUGHTS
- Woke up a few minutes later than usual due to a little sleeping troubles last night
- Started day off with about a 15 min yoga and meditation session
- Feeling rested and positive 😊
- One area of improvement – Neglected to setup my NinjaTrader chart last night with my power range drawings. Had to get that done before the open
- READY!
Remember the setup DOES NOT have to be PERFECT.
TRADING NOTES
09:32 – Looking choppy out the gate. Not surprising for a Friday. I usually like to not trade aggressive on Fridays
09:35 – Was thinking to go short there before the close of the candle at 167 but my plan is to make trading decisions on closed candles ONLY, so passed. As I’m writing this, I’m reminded why I have that rule by the price action.
09:41 – We can see how wild price action is looking at the 1 min and tick chart.. I’m seeing scalping opportunities, but do to this battle zone we’re trading in I choosing to sit on the sidelines and just wait until things calm down a little.
09:44 – Opening my quad chartbook to get a snapshot of the other markets
09:46 – Looking at next support range at 149 – 138 (ish)
09:50 – Short taken at 150 to ride momentem but didn’t work out the way I would like. Mental stop loss, Could have held it a little longer for a scalp but not worth the risk in my mind. Wanted a pullback to the 160 area..
09:52 – Noticing conflicting Fib lines between Sierra anc NinjaTrader… Let’s see which ones are more relavant. Interestingly my power range lines are drawn identically, hmmm….
10:00 – [THOUGHT] Need to check how detailed I can get with NinjaTrader hot keys.
10:05 – Accidently place and order short with hotkey in Sierra trying to print screen (LUCKY!)
10:08 – As of right now Fib lines on Sierra look more relevant. They’re actually too many lines on NinjaTrader. Need to look into that later.
10:11 – [THOUGHT] BTD has a greater probability of success when near the 20 ma
10:13 – I froze for a second seeing the extra Fib line on NinjaTrader which led to me missing out on this big move short!
10:17 – Gotta figure out a better way to place stop limit orders on NT8. Not a fan of the current setup. Was looking at a breakout trade but couldn’t get order placed fast enough.
